Leap in U.S. debt hits taxpayers with 12% more red ink

The 12% rise in red ink in 2008 stems from an explosion of federal borrowing during the recession, plus an aging population driving up the costs of Medicare and Social Security.

That's the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003.

The latest increase raises federal obligations to a record $546,668 per household in 2008, according to the USA TODAY analysis. That's quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined.

The red ink just keeps on coming. Debt is being piled upon debt. The Fed will print money to keep its creditors at bay. This will devalue the dollar - your dollars. You probably don't have a government approved printing press so you will need another option.